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Regime: Mixed — the VIX at 17.82 suggests a moderately risk-on environment, but rising US 10Y real yields near 2.13% offset the positive sentiment. Today’s market themes: FOMC Minutes: focus on the Fed’s inflation outlook and rate-cut timeline. Iran tensions: geopolitical risks weigh on oil and broader sentiment. Nvidia earnings: potential…
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Where we are: The Dollar Index is holding steady around 119.30, consolidating gains after a six-week high overnight. The overnight range has been tight, with price action oscillating around the 119.25 level. The DXY is currently above Friday’s close of 119.28, reflecting persistent upward momentum. What’s driving it: The primary driver…
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Where we are: S&P 500 futures are trading around 5320, modestly higher on the session, in line with premarket gains. This puts the index above yesterday’s close but still within the recent trading range. The overnight session saw limited volatility, consolidating after yesterday’s cautious retreat driven by rising bond yields. What’s…
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Where we are: Gold is under pressure, currently trading near $4,465/oz, consolidating losses from the previous session. Overnight, XAU traded in a relatively tight range, failing to break above $4,500. The current level is well below the prior NY close, suggesting further downside potential if momentum continues. What’s driving it: The…
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Where we are: EUR/USD is trading near 1.0805, holding steady after a choppy overnight session. The pair remains below its prior NY close, consolidating within a narrow range. Key levels to watch are 1.0780 as support and 1.0830 as resistance. Overall the Euro has seen little movement since the close of…
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Where we are: Nasdaq 100 futures are trading around 19,350, holding ground after a volatile overnight session. The index is attempting to consolidate above the psychological 19,300 level, but remains below yesterday’s New York close. The overnight range has been relatively narrow, suggesting a wait-and-see approach ahead of today’s FOMC minutes.…
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Where we are: Cable is currently trading around 1.2680, recovering from overnight lows near 1.2650. The pair is oscillating above the 1.2670 level, which marks the 50-day moving average. This is a significant improvement versus Friday’s close, fuelled by today’s domestic CPI print, but remains well below the multi-month highs of…
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Where we are: USD/JPY is trading around 159.05, consolidating after failing to break above the psychologically important 160.00 level overnight. The pair remains within sight of levels that triggered suspected intervention in late April/early May. The overnight range has been relatively muted and sits below Friday’s close, and well above the…
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Where we are: The Dow Jones is struggling to hold gains this morning, trading around 39,800 in futures. This is slightly below yesterday’s New York close and within the overnight range. Technically, the index remains below its recent highs, hinting at continued selling pressure. What’s driving it: The primary driver is…
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Where we are: USDCAD is currently trading around 1.3790, consolidating gains made in the overnight session. The pair has been oscillating in a narrow range between 1.3770 and 1.3810, slightly above yesterday’s NY close. Technically, USDCAD is testing resistance at 1.3800, with support holding near 1.3750. What’s driving it: The Canadian…
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Where we are: Bitcoin is trading around $66,850 as of 13:00 London, holding the level but looking heavy. The overnight range has been relatively tight, between $66,300 and $67,200. This level is slightly below yesterday’s New York close, suggesting some mild overnight selling pressure. What’s driving it: The lack of fresh…
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Where we are: The FTSE 100 currently trades around 10,260, slightly below yesterday’s close, after a volatile session in Europe. The index is bouncing around a 50-point range established overnight, and needs to decisively break either 10,300 or 10,200 to signal the next leg. Prior NY close was around 10,300, so…
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Snapshot: AUD/USD is soft, trading near the 0.6650 level, weighed down by the RBA’s cautious stance on inflation. The central bank remains reluctant to commit to a cut path, citing uneven progress on inflation and a tight labour market. All eyes will be on the 11:30 AEST Employment Change and Unemployment…
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Snapshot: WTI crude futures are trading around $102, extending yesterday’s gains. Today’s primary focus will be the release of the FOMC Meeting Minutes at 14:00 ET, which could provide insights into the Fed’s assessment of inflation and its potential impact on future monetary policy and, consequently, economic growth and oil demand.…
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Snapshot: The Nikkei 225 closed down 1.23% at 59,804, driven by a surge in Japanese government bond (JGB) yields to levels not seen since 1996. This hawkish shift is fueled by stronger-than-expected economic growth and increasing expectations of a Bank of Japan (BoJ) rate hike, possibly as early as next month.…
